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Estate Planning: Build Back Better: Challenges and Opportunities for Private Wealth Clients

Karen Harding recently wrote an article for Estate Planning, a Thomson Reuters publication. Download the article hereThe legislation discussed in this article was pending at the time of publication.

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NEPC Elects a New Partner and Announces the Promotion of Principals for 2022

BOSTON—December 9, 2021 — NEPC, LLC, one of the industry’s largest independent, research-driven investment consulting firms, today announced the election of one new Partner and the promotion of six new Principals, effective January 1, 2022.

“These individuals have all demonstrated exceptional leadership and contributed to the overall success of NEPC. We fully anticipate that they will continue to make a substantial impact for our clients, the firm, and our industry, and these promotions reflect our confidence in their prospective contributions,” said Michael Manning, Managing Partner of NEPC.

The firm will now have 45 Partners and 27 Principals1.

The newly elected Partner is Will Forde, and new Principals include Richard Chari, Chris Hill, Chris Miers, Tim O’Connell, Deirdre Robert, and Dan Runnals.

Partners

  • Will Forde, CFA, CAIA joined NEPC in 2011 as a Search Analyst on NEPC’s Research team, ultimately transitioning into Consulting on the firm’s Public Fund team. Will continued to take on more responsibility and rose through the ranks to Senior Consultant, consistently receiving high marks from his clients on his solution-focused approach to investment portfolios and his strong relationship-building skills. He has played a leadership role on NEPC’s Diverse Manager Committee and has deep investment knowledge of all asset classes. He is also an active member of NEPC’s Asset Allocation Committee, its Client Conference Committee, and has played a leadership role in many of the firm’s internal DEI efforts.

Principals

  • Richard Chari joined NEPC as an analyst in 2008 and has worked his way through the ranks to an accomplished, highly valued Senior Consultant on the Corporate Defined Benefit (DB) Team. His extensive knowledge of LDI and pension risk transfer (PRT) are essential skills that are leveraged across the DB Team and by other teams at the firm.

 

  • Chris Hill, CFA, CAIA joined NEPC in 2013 as a Senior Consultant in Alternatives and then after a short stint at Entrust, returned to NEPC in 2017 to join the firm’s Private Markets Team. Chris has a breadth of knowledge and expertise that he shares across NEPC. Whether it be his work as a private market consultant, his research on private credit, or his more technical portfolio construction skills, he is constantly sought out by Partners and Consultants looking to tap into this knowledge.

 

  • Chris Miers J.D., CRE, FRICS joined NEPC in 2019 as a Senior Consultant on the Real Assets Team. Chris spearheads investment manager research in Europe and Asia in addition to his general non-core and real estate debt underwriting efforts. He also helps lead NEPC’s research in topical areas such as data centers, life sciences, and single-family housing strategies.

 

  • Tim O’Connell, CFA joined NEPC in 2012 as a hedge fund analyst. Today he manages a 14-person investment research team. The ~1,650 investment strategies covered by his team represent about 60% of NEPC client assets. Tim played a major leadership role in creating NEPC’s investment manager evaluation framework and in implementing it over the past two years.

 

  • Deirdre Robert, CFA, CAIA joined NEPC 13 years ago as a Performance Analyst on the Defined Contribution (DC) Team after spending two summers interning in Research. As a Senior Consultant on NEPC’s DC Team today, she is known for her deep knowledge of DC topics, her ability to handle complex clients, and her strength in new business. She is a member of NEPC’s Women’s Leadership Forum, is a Diverse Manager Committee Ambassador, and a Client Conference Committee member.

 

  • Dan Runnals CFA, CAIA joined NEPC in 2011 as a Performance Analyst and made his way into the consulting ranks of the firm’s Taft-Hartley Team. Now a Senior Consultant, he has built strong relationships with NEPC’s clients and is extremely knowledgeable across all asset classes, asset allocation methodologies, and investment products.

 

ABOUT NEPC, LLC

NEPC is an independent investment consultant and private wealth advisor, serving over 400 retainer clients and $1.4 trillion2 in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net-worth individuals. To learn more about NEPC, visit NEPC.com.

 

1 Data as of 1/01/2022

2 Data as of 10/1/2021


Denver downtown skyline in Autumn w/ City Park and lake in the foreground and the Rocky Mountains in the background.

The Denver Foundation: Aligning Assets with Mission

In 2018, The Denver Foundation made an important decision. It would change the focus of its $180 million socially responsible investment pool from negative screens (excluding “sin stocks” such as tobacco or firearms companies) towards inclusion of investments with social or environmental impact.

It might seem a modest shift. But for TDF, it was the start of an ambitious strategy to use both its investments and its grantmaking to advance the goals at the heart of its philanthropic mission: diversity, equity, and inclusion.

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NEPC Survey: Endowments Soar But Universities Fear Enrollment Declines

BOSTON--(BUSINESS WIRE)-- NEPC, LLC, one of the largest independent, research-driven investment consulting firms, today announced the results of its 2021 Higher Education Survey, which highlights both present concerns and longer-term outlooks for some of the nation’s largest higher ed endowments.

COVID-related concerns are receding, with only 8% indicating concerns about pandemic-related expenses. There is an overall tenor of optimism among higher ed endowments. Only 19% signaled significant concern about inflation and 50% have plans for significant capital expenditures.

Enrollment declines (cited by 62%) are now the top worry for universities in spite of healthy enrollment levels for most universities. 63% reported either no change or an increase in enrollment compared to pre-pandemic levels. Just 10% of respondents reported an enrollment decline of more than 10%. Vaccines continue to be hotly debated, with 53% of respondents requiring students to be vaccinated before returning to campus.

“This time last year, endowments were reeling from the most severe liquidity crisis higher education had faced since the global financial crisis,” said Sam Pollack, Partner and senior member of NEPC’s Endowments and Foundations team. “Today, the numbers tell a very different story. Large university endowments achieved tremendous returns at fiscal year end, in large part due to their strong private market allocations. The challenge for investment teams in 2022 will be maintaining discipline with their spending rates, while making strategic investments in areas that were put on hold at the peak of the liquidity crisis.”

Endowments are also focused on sustainable investing and diversity. 37% cited ESG and impact investing as a priority, and 28% plan to increase engagement with diverse-led and diverse-owned managers. Institutions are more cautious about making Net Zero commitments: 72% do not have Net Zero strategies in place or plans to create one. Tracking diversity efforts also remains a work in progress: 64% do not currently track engagement with diverse managers.

For the full results of NEPC’s 2021 Higher Education Survey, please submit this form.

 

ABOUT NEPC, LLC

NEPC is an independent investment consultant and private wealth advisor, serving over 400 retainer clients and $1.4 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net-worth individuals. To learn more about NEPC, visit nepc.com.

Media Contact:

Laura Nascimento

[email protected]


NEPC Hires Former Aon Executive to Lead Innovation of Defined Contribution Solutions

BOSTON–(BUSINESS WIRE)–NEPC, LLC, one of the largest independent, research-driven investment consulting firms, today announced that former Aon executive Bill Ryan joined the firm as Partner and Head of Defined Contribution (DC) Solutions, effective November 1.

In the newly created role, Ryan helps lead the way NEPC serves DC plan sponsors, ensuring the firm’s solutions address challenges like governance model support, operational risk management, and using participant level data to enhance plan design.

“While their teams and resources have decreased, plan sponsors today face increasingly complicated challenges,” said Craig Svendsen, NEPC Partner and Corporate Practice Director. “Bill will help us more efficiently deliver the strategic, innovative solutions our clients need. As plans evolve, we’ll always stay a step ahead to prepare our clients for what’s next.”

Prior to joining NEPC, Ryan was Head of North America DC Multi-Asset Solutions at Aon where he advised 21 of Pensions & Investments’ (P&I) top 100 DC plan sponsors and was entrusted with more than $800 billion in retirement savings for 60 million participants. He also led the firm’s Custom DC Solutions Team, which was responsible for over $500 billion of bespoke solutions.

“Joining NEPC allows me to build on its foundation of over 200 DC clients to create and deliver tailored, innovative solutions that address their unique needs,” said Ryan. “I’ll be focusing on helping clients effectively use plan data to evaluate investment efficiencies and expanding NEPC’s retirement income solutions expertise. Sponsors deserve the independence, innovation, and commitment that NEPC delivers.”

Ryan is an Executive Committee member and Chair of the Investment Policy and Design Committee for the DC Institutional Investment Association. He has received several P&I Eddy Awards as plan sponsor, was named a 2020 Power Broker in Employee Benefits as an investment consultant by Risk & Insurance Magazine, and was a 2013 finalist for PLANSPONSOR’s Plan Sponsor of the Year.

Learn more about NEPC’s Defined Contribution Team here.

ABOUT NEPC, LLC

NEPC is an independent investment consultant and private wealth advisor, serving over 400 retainer clients and $1.4 trillion in total assets. Combining a proprietary research team dedicated to the long-term challenges facing investors with our unique client-centric model, NEPC builds forward-looking investment portfolios for institutional investors and ultra-high-net-worth individuals. To learn more about NEPC, visit nepc.com.